Luxury on the Edge
The California Fires Are Bringing Attention to Real Estate in the Wake of Increased Climate Risk
Welcome back to Built to Zero. This week, we’re covering how climate risk is influencing real estate trends and ways the industry is working to combat that risk.
Let’s dive in.
Trends
🏗 Modular Construction Gains Momentum
Developers are increasingly turning to modular construction as a cost-effective and sustainable solution. This method offers enhanced resilience against extreme weather and reduces material waste, aligning with the industry’s shift towards a circular economy.
🌿 Eco-Friendly Homes on the Rise
The demand for eco-friendly homes is reshaping the property market. Buyers and sellers are prioritizing sustainability, leading to a surge in green building practices that reduce carbon footprints and lower energy costs.
Deals & Developments
🌊 Monaco’s Mareterra Eco-District Unveiled
Monaco has introduced Mareterra, its first eco-district, featuring luxury residences equipped with 9,000 sq m of solar panels and heat pumps. This development underscores the principality’s commitment to sustainability.
☀️ Solar-Powered Community in Australia
In Queensland, a new housing estate is integrating advanced solar technology directly into roadways. This innovative approach aims to provide clean energy and support electric vehicle charging, setting a precedent for sustainable community developments.
Technology
🔍 Climate-Risk Scores Influence Homebuyers
Real estate platforms are now providing climate-risk estimates, including flood and fire likelihoods, over the next 30 years. This transparency is guiding buyers towards properties in safer areas, potentially reshaping real estate demand.
Legislation
🏢 NAR’s Sustainability and Resilience Plan
The National Association of REALTORS® has launched an ambitious plan to green its network of 1.5 million professionals. This initiative aims to provide resources and guidelines for energy-efficient and resilient home improvements.
Quick Takes
🏡 Ultra-Luxe Homes in Climate Danger Zones
Despite the risks posed by climate change, luxury homes in vulnerable areas continue to attract buyers, highlighting a paradox in real estate investment.
🌳 Portugal’s Sustainable Utopias
Developments in Portugal are blending sustainability with community living, focusing on eco-friendly construction and traditional crafts.
Fact for Thought
Investing in sustainable building practices not only benefits the environment but also enhances property resilience and long-term value.